Saturday, March 14, 2015

GOP quiet on Oil policy suddently: Low gas prices and clean energy are working well.

http://www.addictinginfo.org/2015/03/14/notice-gops-silence-on-oil-lately-obama-did-the-unthinkable-cheap-gas-and-renewable-energy/


President Obama's energy policy is working well.

You may have noticed recently that your price at the pump has been a lot lower than it had been. In the last months of 2014, the price of gas was in freefall, which in turn had acted like a booster shot to the arm of the economy. The stock market soared; companies began hiring at faster and faster rates (they are now complaining that they can’t find enough workers to fill their payrolls); and more importantly, average Americans saved thousands of dollars.
Prices have begun to creep up again, although much more slowly than they had fallen, but a new report looking at oil reserves found that the oil industry is booming so big right now that companies are literally running out of places to put the oil they’ve extracted.
For the past seven weeks, the United States has been producing and importing an average of 1 million more barrels of oil every day than it is consuming. That extra crude is flowing into storage tanks, especially at the country’s main trading hub in Cushing, Oklahoma, pushing U.S. supplies to their highest point in at least 80 years, the Energy Department reported last month. [source]

No comments: